Analyst Coverage

Diamond Equity Research	Hunter Diamond	$5.10
Noble Capital Markets	Gregory Aurand	$5.25

YS Biopharma Co., Ltd. is followed by the analysts listed. Please note that any opinions, estimates or forecasts regarding YS Biopharma Co., Ltd.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of YS Biopharma Co., Ltd. or its management. YS Biopharma Co., Ltd. does not by its reference or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

November 13, 2023	Noble Capital Markets Initiation Report
September 20, 2023	Diamond Equity Research September 2023 Update Note
August 17, 2023	Diamond Equity Research Initiation Report

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